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Hello Tony Tax,
Thank you for your swift response. You can view the Bond without having to be a member @ www.eliteinvestorclub.com It says that it is ISA compliant and so returns can be taken tax free.
Is there a limit to the number that my husband and I could buy ? What would that limit be please ? At the moment my husband is working and we are higher tax payers. When he retires we will be basic tax payers so we would like both figures please ?
Thank you very much for your expertise, time and attention.
Hi again.If you invested £1,000 in the 9.85% Bond outside of an ISA, you would get £98.50 in gross interest.A 20% taxpayer would pay £19.70 in income tax, leaving them with £78.80, a net return of 7.88%.A 40% taxpayer would pay £39.40 in income tax, leaving then with £59.10, a net retrun of 5.91%.The Elite Investor Club will probably have a maximum investment limit and you can find out what that is by completing the enquiry form here:http://www.eliteinvestorclub.com/portfolio/9-85-bond-with-95-capital-guarantee/If you invested through an ISA, the interest would be completely free of income tax so your net return would be 9.85%. The limits for ISAs can be found here:https://www.gov.uk/individual-savings-accounts/overview
There are set up charges so for the 9.85% Bond and those would dilute the year 1 return somewhat.I hope this helps but let me know if you have any more questions.